Stock Market & Financial Investment News

Starz announces new long-term output agreement with Sony PicturesSony (SNE) Pictures Entertainment and Starz (STRZA) announced a new, multi-year agreement that extends their exclusive first-run output premium pay TV deal. As a result, Starz will have the exclusive pay television rights to Sony Pictures' theatrical releases through 2021. The previous agreement between the two companies had covered motion pictures released theatrically through 2016.

Sony mobile president seeking profitability first, WSJ reportsIn an interview with the Wall Street Journal, president of Sony Mobile Communications Hiroki Totoki stated he recognizes the company "should become a meaningful source of profit to the group... The business canít be justified if the profit margin is low." Totoki wants to stay in the mobile business for the next cycle of innovation, saying that "we wonít tie ourselves only to smartphones or even hardware" and adding that the unit is "open to tie-ups with thirds parties." Totoki also sees potential for the brand in India. Reference Link

Sony breach underscored failings in corporate, government cooperation, WSJ saysA Wall Street Journal review of the hack attack on Sony Entertainment shows that the companies and government agencies fighting the hackers based some decisions on little information or consultation since the parties often held too closely to their own interests, illustrating major shortcomings in how the government and companies work together to respond to such attacks. The Journal cites interviews with executives, U.S. officials and people briefed on their conversations in its report. Reference Link

Sony may be contemplating replacing CEO Hirai with CFO Yoshida, NY Post saysSony may be considering replacing CEO Kaz Hirai with current CFO Kenichiro Yoshida, reports the New York Post, citing several Hollywood sources. Yoshida has received heavy media praise for his restructuring efforts and is currently set to add the title of executive deputy president in April. The article emphasizes that this is speculation among Hollywood figures. Reference Link

Sony sets FY17 ROE target of more than 10%Sony held its Corporate Strategy Meeting and unveiled a mid-term strategy that charts the path forward for the company over the next three years. Sony said it will position Return on Equity as its primary key performance indicator and has set a target for consolidated ROE of more than 10% and a target for consolidated operating profit of more than 500B yen for the Sony Group in FY2017, the final year of its mid-range corporate plan.